Quick Overview

• The U.S. Census Bureau said that U.S. exports were up $2.7 billion in August to $122.4 billion while imports were up $4.6 billion to $192.3 billion. The rise in the U.S. trade deficit nudged the dollar off against the Euro and yen.
  

• U.S. Jobless claims were up 4,000 last week.
  

• Consumer prices in Germany were down 0.5% in September and up 1.0% YoY.
  

• Canada's exports were up 0.3% in August -- imports were down 0.6%.
  

• The U.S. Department of Agriculture cut its 2006-07 global wheat production estimate by 11 million tons to 585.1 million tons. This in turn led to a 7.1 million-ton drop to global ending stocks to 119.3 million tons, a 25-year low. The USDA lowered
  Australian 2006-07 wheat production to 11 million tons from its 19.5-
  million-ton estimate in September.
  
  

• The USDA's 2006-2007 U.S. ending stocks estimate for:
  Corn was reduced from 1.220 to .996 billion bushels.
  Soybeans were increased from 530 to 555 million bushels.
  Wheat was reduced from 429 to 418 million bushels.
  Sugar was reduced from 1.756 to 1.755 million tons.
  Cotton was increased from 4.60 to 5.40 million bales.
  

• The USDA's 2006-2007 world ending stocks estimate for:
  Corn was reduced from 92 to 90 million tons.
  Soybeans were increased from 52 to 55 million tons.
  Wheat was reduced from 126 to 119 million tons (the lowest stocks figure in 25 years)
  Cotton was increased from 47 to 52 million tons.
  
  

• The U.S. Department of Energy said that:
  Supplies of crude oil were up 2.4 million barrels.
  Supplies of unleaded gasoline were up 300,000 barrels.
  Supplies of heating oil supplies were down 1.8 million barrels.
  Supplies of natural gas were up 62 billion cubic feet.